NEWS
Fidelity Bank Redeems $400m Eurobond at Maturity
Fidelity Bank Redeems $400m Eurobond at Maturity
November 1, () – Fidelity Bank Plc has fully redeemed its $400 million 7.625 per cent Senior Unsecured Eurobond at maturity, meeting all its payment obligations under the five-year debt instrument. The bank disclosed this in a notice to shareholders, the Nigerian Exchange Limited (NGX) and other stakeholders dated October 29, 2026.
According to the notice, the Eurobond matured on October 28, 2026, with the bank repaying the outstanding principal in full alongside the final coupon payment.
The $400 million Eurobond was issued on October 28, 2021, with a five-year tenor and an annual coupon rate of 7.625 per cent, payable semi-annually. Fidelity Bank said it had met all scheduled coupon payments throughout the life of the instrument and fulfilled its obligations in accordance with the terms and conditions of the notes. The successful redemption underscores the bank’s liquidity management strategy, prudent asset and liability management practices, and commitment to meeting its financial obligations.
The bank noted that the timely repayment reflected its disciplined approach to financial planning and its ability to honour its debt obligations at maturity. The redemption brings the five-year Eurobond to a close, with the bank having paid the principal and interest obligations stipulated under the debt agreement.
Fidelity Bank also expressed appreciation to its noteholders, regulators, customers, shareholders and other stakeholders for their confidence and continued support. The Eurobond, classified as senior unsecured notes due 2026, was issued on October 28, 2021, and carried an annual coupon rate of 7.625 per cent, with interest payments made every six months. The instrument was denominated in US dollars, with an aggregate principal value of $400 million.
The full redemption comes amid increasing attention to Nigerian financial institutions’ external debt obligations, liquidity positions and capacity to meet international investors’ expectations. For banks accessing international capital markets, timely debt repayment is an important consideration in maintaining investor confidence and supporting future fundraising activities.
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